Govt provides incentives for real estate developers

The government has put in place incentive packages for investors and real estate developers who are ready to partner it to deliver low income affordable housing to the people of Ghana, the Minister of Water Resources Works and Housing, Alhaji Collins Dauda, has said.

The incentive packages include tax holiday for five years, exemption from payment of import duty on plant, equipment, machine and other supplies subject to approval by Parliament, exemption from the payment of rent and property rates on temporary structures and buildings erected on site by the developers for the sole purposes of the project and land for housing.

Alhaji Dauda said this at the launch of the 25th anniversary of Ghana Real Estate Developers Association (GREDA) at the weekend in Accra.

Ghana needs to deliver 170, 000 housing units every year for the next 10 years to offset the housing deficit of 1.7 million the country faces.

According to Alhaji Dauda, there was the need for all stakeholders to focus on providing low income affordable housing units for those in the low to middle income bracket.

The ministry, he said, had acquired about 50,000 acres of land nationwide for housing projects, and portions of the land would be used for affordable housing by the government alone and the rest made available to private investors.

“I appeal to land owners to offer their land to the government for the housing projects and they should also acquire the necessary land titles to avoid litigation. I urge you to take advantage of this offer and improve on your business.

I urge GREDA members to take advantage of the training programmes organised by other professional bodies to improve upon their work as the ministry is ready to dialogue with the association to find solutions to the challenges facing the housing industry, “he said.

He commended GREDA for delivering on its mandate of providing affordable housing for the country, and urged them to obtain titles for their lands.

The GREDA President, who is also the Managing Director of Rivonia Limited, Mr Kwakye  Dopoah-Dei, advised members of the association to promote and encourage cooperation among all stakeholders.

He said GREDA was well-equipped and resourced enough to provide the number of houses Ghana needed, and expressed worry that foreign contractors were being given much attention than their local counterparts.

For his part, the Founding President of GREDA, Mr Torgbor Mensah, said the association started with nothing but could now boast 400 members as it was now rated among the top eight international developers.

By Jennifer Ansah/Ghana